TCV leads $100m series-B for WorldRemit

The investment round, in which existing backer Accel Partners also took part, will fund the roll-out of the service in new countries. It will also allow the business to expand on partnerships with telecommunications companies in Asia, Latin America and Africa.

The deal comes just weeks after TransferWise, another London-based international money transfer provider, raised $58m in a series-C round led by US-based VC Andreessen Horowitz.

Previous funding
Accel provided WorldRemit with $40m of series-A funding in March 2014.

Company
Founded in 2009 and based in London, WorldRemit is an online money transfer firm that operates globally. Customers can send funds from 50 countries to people in 117 destinations. The business currently employs around 150 people in its London headquarters and plans to recruit around 200 in its US office in Denver, which opened in December 2014.

People
John Rosenberg is a general partner at TCV. Ismail Ahmed is CEO of WorldRemit.

Advisers
Equity – William Blair (Corporate finance); Weil, Gotshal & Manges (Legal). 

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• United States
• Accel Ventures